Callan Family Office LLC Buys New Shares in Marathon Petroleum Corporation $MPC

Key Points

• Callan Family Office acquired 15,025 Marathon Petroleum shares worth approximately $3.84 million, while institutional investors collectively own 76.77% of the stock.
• Marathon Petroleum reported quarterly EPS of $17.73, exceeding estimates of $14.27, with revenue rising 53.5% year over year to $51.99 billion.
• The company declared a quarterly dividend of $1.00, equivalent to $4.00 annually and a 1.1% yield; analysts maintain a “Moderate Buy” consensus with an average price target of $312.50.

Callan Family Office LLC bought a new position in Marathon Petroleum Corporation (NYSE:MPC - Free Report) during the second quarter, according to the company in its most recent filing with the SEC. The firm bought 15,025 shares of the oil and gas company's stock, valued at approximately $3,841,000.

Other hedge funds have also added to or reduced their stakes in the company. BlackRock Inc. purchased a new position in shares of Marathon Petroleum in the second quarter worth about $6,648,958,000. Bank of New York Mellon Corp bought a new stake in shares of Marathon Petroleum in the 2nd quarter valued at about $1,029,611,000. Norges Bank purchased a new stake in Marathon Petroleum during the 4th quarter valued at about $472,312,000. Capital Wealth Planning LLC boosted its holdings in Marathon Petroleum by 49,392.0% during the 4th quarter. Capital Wealth Planning LLC now owns 1,498,124 shares of the oil and gas company's stock valued at $245,157,000 after acquiring an additional 1,495,097 shares during the period. Finally, Pacer Advisors Inc. grew its position in Marathon Petroleum by 3,816.8% during the 4th quarter. Pacer Advisors Inc. now owns 1,306,749 shares of the oil and gas company's stock worth $212,517,000 after acquiring an additional 1,273,386 shares during the last quarter. 76.77% of the stock is owned by institutional investors.

Marathon Petroleum Price Performance

MPC stock opened at $362.18 on Friday. Marathon Petroleum Corporation has a 1 year low of $161.93 and a 1 year high of $367.60. The company has a market cap of $105.73 billion, a P/E ratio of 12.45, a PEG ratio of 0.23 and a beta of 0.52. The firm has a 50-day moving average of $297.25 and a 200 day moving average of $254.23. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.25 and a quick ratio of 0.89.

Marathon Petroleum (NYSE:MPC - Get Free Report) last issued its quarterly earnings data on Tuesday, August 4th. The oil and gas company reported $17.73 EPS for the quarter, topping the consensus estimate of $14.27 by $3.46. Marathon Petroleum had a net margin of 5.48% and a return on equity of 31.96%. The business had revenue of $51.99 billion during the quarter, compared to analyst estimates of $40.87 billion. During the same period last year, the business posted $3.96 earnings per share. Marathon Petroleum's quarterly revenue was up 53.5% compared to the same quarter last year. On average, sell-side analysts forecast that Marathon Petroleum Corporation will post 46.66 EPS for the current year.

Marathon Petroleum Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 10th. Stockholders of record on Wednesday, August 19th will be paid a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date is Wednesday, August 19th. Marathon Petroleum's dividend payout ratio (DPR) is presently 13.75%.

Wall Street Analyst Weigh In

A number of equities analysts have commented on MPC shares. The Goldman Sachs Group lifted their price target on Marathon Petroleum from $291.00 to $376.00 and gave the stock a "buy" rating in a research note on Wednesday, July 22nd. Evercore set a $330.00 target price on shares of Marathon Petroleum in a report on Wednesday, August 5th. Mizuho lifted their target price on shares of Marathon Petroleum from $284.00 to $304.00 and gave the stock a "neutral" rating in a research note on Tuesday, August 11th. Piper Sandler lifted their target price on shares of Marathon Petroleum from $343.00 to $344.00 and gave the stock an "overweight" rating in a research note on Thursday, August 6th. Finally, Raymond James Financial upped their price target on shares of Marathon Petroleum from $300.00 to $335.00 and gave the company an "outperform" rating in a report on Monday, July 13th. Twelve analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $312.50.

Insider Activity at Marathon Petroleum

In related news, VP Michael A. Henschen II sold 6,336 shares of Marathon Petroleum stock in a transaction that occurred on Thursday, June 4th. The stock was sold at an average price of $268.82, for a total transaction of $1,703,243.52. Following the sale, the vice president directly owned 16,900 shares in the company, valued at $4,543,058. The trade was a 27.27% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Shawn M. Lyon sold 2,500 shares of the company's stock in a transaction on Thursday, August 13th. The stock was sold at an average price of $350.00, for a total value of $875,000.00. Following the completion of the sale, the senior vice president directly owned 12,619 shares in the company, valued at approximately $4,416,650. The trade was a 16.54% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 0.17% of the company's stock.

Marathon Petroleum Profile

Marathon Petroleum Corporation NYSE: MPC is a U.S.-based downstream energy company engaged principally in the refining, marketing, supply and transportation of petroleum products. The company was formed through a spin-off from Marathon Oil in 2011 and operates an integrated system of refining and logistics assets that support the production and distribution of transportation fuels and other refined petroleum products.

Marathon Petroleum's operations include refining crude oil into gasoline, diesel, jet fuel, asphalt and other specialty products, as well as managing the distribution and storage infrastructure needed to move those products to market.

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